RBI extends deadline for micro-lenders' provisioning

Reuters Staff

1 Min Read

March 20 (Reuters) - The Reserve Bank of India has deferred the implementation of asset classification and provisioning norms for non-banking financial company-micro finance institutions to April 1, 2013, from April 1, 2012.

The move is after “taking into account the difficulties faced by MFI sector and the representation received” by it, the bank said in a notification. (Reporting by Aditya Phatak in MUMBAI; Editing by Rajesh Pandathil)